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RIDGEFIELD, NJ- Russo Development has sold its 40,000-sf industrial building located at 55 Railroad Ave. here to the Grow Co., a manufacturer of dietary supplements and food colors. The buyer will use the building for general office purposes, as well as laboratory and manufacturing functions. Sale price and other terms of the sale were not disclosed.

The deal was arranged for the seller by the Hackensack, NJ-based NAI James E. Hanson, Inc. Heading the effort were Hanson VP Andrew Somple and sales associates Thomas Vetter and Jeff DeMagistris. The buyer was represented by SBWE of Hasbrouck Heights, NJ.

“This transaction is evidence of the continued interest in industrial properties in the marketplace,” according to Vetter, referring to the northern New Jersey area.

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